Northmarq Capital’s Miami office completes refinancing for portfolio of five multifamily properties in New Orleans
Five Multifamily Properties
MIAMI (January 20, 2015) – Robert Bhat, vice president of NorthMarq Capital’s Miami based office arranged refinancing for a portfolio of five multifamily properties located in New Orleans, Louisiana. The properties that received financing included: Washington Place Apartments (25-units), Liberty Park Apartments (10-units), Forest Park Apartments (20-units), Riverview Apartments (45-units) and Cypress Park Apartments (65-units). The transactions were structured with a 10-year term and 20-year amortization schedule. NorthMarq arranged financing for the borrower, Bruno, Inc. through its affiliation with a Fannie Mae – DUS lender. “New Orleans has experienced considerable comeback since Hurricane Katrina,” said Bhat. “Job growth has played a key role, which was led by educational and health services. The city has also become attractive to new businesses, including high-tech entrepreneurs. Demand for multifamily property in convenient locations remains strong.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
